Trex Company, Inc. (TREX) Director Sells $227,690.58 in Stock
Trex Company, Inc. (NYSE:TREX) Director Frank H. Merlotti, Jr. sold 2,158 shares of Trex stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $105.51, for a total value of $227,690.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Trex Company, Inc. (NYSE TREX) traded up $0.80 during mid-day trading on Wednesday, reaching $106.30. The company’s stock had a trading volume of 114,500 shares, compared to its average volume of 239,230. Trex Company, Inc. has a 1 year low of $61.57 and a 1 year high of $112.39. The stock has a market capitalization of $3,104.33, a P/E ratio of 34.82 and a beta of 2.41.
Trex (NYSE:TREX) last posted its quarterly earnings results on Monday, October 30th. The construction company reported $0.68 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.13. Trex had a return on equity of 51.30% and a net margin of 16.61%. The firm had revenue of $140.19 million during the quarter, compared to the consensus estimate of $125.30 million. During the same quarter in the previous year, the business earned $0.26 earnings per share. The firm’s quarterly revenue was up 32.0% compared to the same quarter last year. equities research analysts anticipate that Trex Company, Inc. will post 3.11 EPS for the current year.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Bamco Inc. NY boosted its position in shares of Trex by 4.4% in the third quarter. Bamco Inc. NY now owns 1,185,205 shares of the construction company’s stock worth $106,751,000 after buying an additional 49,870 shares during the period. Janus Henderson Group PLC purchased a new stake in shares of Trex in the second quarter worth about $76,849,000. Eagle Asset Management Inc. boosted its position in shares of Trex by 4.5% in the third quarter. Eagle Asset Management Inc. now owns 975,160 shares of the construction company’s stock worth $85,258,000 after buying an additional 42,214 shares during the period. Wasatch Advisors Inc. boosted its position in shares of Trex by 9.6% in the second quarter. Wasatch Advisors Inc. now owns 946,311 shares of the construction company’s stock worth $64,027,000 after buying an additional 83,274 shares during the period. Finally, State Street Corp boosted its position in shares of Trex by 4.7% in the second quarter. State Street Corp now owns 724,301 shares of the construction company’s stock worth $49,003,000 after buying an additional 32,626 shares during the period. 92.13% of the stock is owned by institutional investors.
A number of brokerages have recently commented on TREX. Griffin Securities downgraded Trex from a “buy” rating to a “neutral” rating in a research report on Tuesday, August 1st. Sidoti downgraded Trex from a “buy” rating to a “neutral” rating and set a $89.00 price target for the company. in a research report on Monday, October 2nd. Zacks Investment Research downgraded Trex from a “buy” rating to a “hold” rating in a research report on Saturday. FBR & Co boosted their price target on Trex from $80.00 to $96.00 and gave the company a “neutral” rating in a research report on Tuesday, October 31st. Finally, Stifel Nicolaus reissued a “hold” rating and set a $75.00 price target on shares of Trex in a research report on Thursday, August 3rd. Eight equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. Trex has an average rating of “Hold” and an average price target of $90.00.
Trex Company Profile
Trex Company, Inc is a manufacturer of wood-alternative decking and railing products. The Company’s products are marketed under the brand name Trex and are manufactured in the United States. It offers a set of outdoor living products in the decking, railing, porch, fencing, trim, steel deck framing and outdoor lighting categories.
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